Diminished Value is the loss in resale value a vehicle suffers after it's been repaired from a collision.
Charlotte, NC (PRWEB) March 30, 2013
After expanding its coverage area by offering field appraisals for clients residing in anywhere North Carolina; Diminished Value Carolina, the state's #1 auto appraisal company just launched their updated website with a theme that matches their other sister sites.
Diminished Value Carolina offers field appraisals that include:
-Multi-Point vehicle physical inspection
-Vehicle History Report
-Repair Quality Analysis
-Insurance demand letter tailored to your claim
-Market Analysis of comparable automobiles
-Supporting legal documents
-Automotive industry guide
-Repair estimate analysis
-Loss in Value Amount
What is Diminished Value? When shopping for a vehicle, with everything else being equal, car buyers would not pay the same amount for an automobile that's been wrecked and repaired versus an undamaged counterpart.
This reduction in resale value is owed to the vehicle owner by the negligent party in a car accident and is normally paid by the insurance carrier. Loss in value is commonly called Diminished Value.
Diminished Value is owed to the vehicle’s owner and measured from the date of loss.
Unfortunately, most drivers are unaware of Diminished Value and seldom demand compensation for this loss. In most cases, insurers will attempt to settle the loss is value portion of the claim for cents on the dollar.
According to North Carolina law, any damage exceeding 25% in the vehicle's value must be recorded on the back of the title. This further depresses the resale value of a damaged vehicle, as, by-law sellers must disclose the damage to the buyers.
For more information about diminished value claims or to request an independent appraisal report anywhere in North Carolina please contact Antoine Rached at Diminished Value Carolina by calling (704) 761-8485 or visit their website at Diminished Value Carolina.